Petronas FLNG to tap marginal fields by 1Q of 2016

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) expects to complete its ambitious floating liquefied natural gas (FLNG) vessel by the first quarter next year.

Petronas vice president and venture director LNG project domestic Datuk Abdullah Karim said on Tuesday the Petronas FLNG 1 (PFLNG) is now 91% completed.

"With PFLNG we are able to monetise gas fields which previously were considered too small or stranded," he told reporters at the PFLNG briefing.

He explained that a marginal field for gas would have a reserve of about half a trillion cubic metres.

For the PFLNG1, Abdullah said would be on site, which is in Bintulu, Sarawak (Kanowit field) by March 1 next year.

"We are looking about 1.2 million tonnes per annum of LNG production from the PFLNG 1," he said.

The PFLNG 1 was designed to operate in shallow waters.

The final investment decision for the PFLNG Satu was made on March 27, 2012.

Corporate News , Oil & Gas